The number of people with homes in Scotland worth over £1 million grew by 429 to 7,264 last year despite the downturn, a survey has revealed.

Strong demand for prime residential property during 2012 created 47,024 more British property millionaires over the past 12 months, according to research by property website Zoopla.co.uk.

There are now 300,142 property millionaires in Britain, up 19 per cent from this time last year.

The increase in property prices at the top-end of the market during 2012 was much sharper than the rest of the UK property market.

Almost two-thirds (64%) of Britain’s property millionaires live in London. The capital is home to 182,583 property millionaires, with 36,815 more created in the last 12 months.

Kensington, W8 in London whose residents include Roman Abramovich wears the crown for the most property millionaires in Britain with an average property value currently of £2,186,471.

A staggering 64 per cent of all homes are currently worth over £1 million and the value of the equivalent floor space to an Amazon Kindle (228cm²) is £389.

The borough of Kensington and Chelsea is home to the most property millionaires with 36,293. Despite being the smallest London borough, covering just 12km², it contains 12% of Britain’s property millionaires.

It is followed closely by the borough of Westminster (32,477) which includes the famous areas of Mayfair and Park Lane.

In third place is the borough of Camden (18,400), which includes Primrose Hill, home of famous property millionaires such as James Cordon, Daniel Craig, Jamie Oliver and Ed Miliband.

Lawrence Hall of Zoopla.co.uk said: “The top end of the property market operates seemingly in isolation to the rest of the market. Wealthier buyers are relatively impervious to the economic problems affecting the rest of the market, most notably when it comes to getting a mortgage.

“Foreign buyers in particular have gravitated towards top-end property in London over the last few years, which has pushed up demand and prices on more expensive property as they try to secure a limited supply of top-end homes in the capital.”